BUSINESS
Smuggling Responsible For High Cost Of Rice, Says Finance Minister
The Minister of Finance, Budget, and National Planning, Zainab Ahmed, on Thursday, said smuggling is responsible for the rising cost of rice in the country. Speaking during an interview on Channels Television’s Politics Today on Thursday, the Minister said smuggling is affecting the market and hurting the citizens. “Unfortunately there is a lot of distortion and the distortion is arising from...
Nigeria’s Debt Stock Hits ₦39.6 Trillion In 11 Months
Nigeria’s total debt stock rose from N32.9tn as of December 2020 to N39.6tn in November 2021. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, in her presentation of the 2022 approved budget, disclosed that the government borrowed N6.7tn between January and November 2021, according to a copy of the presentation obtained by our correspondent. The new borrowing in...
BUA Chairman, Alhaji Abdulsamad Vows Not To Increase Products’ Price During Ramadan
The Chairman, BUA Group of Companies, Alhaji Abdulsamad Isyaku Rabiu, has promised Nigerians that the company will not increase the price of its products now or during the upcoming Ramadan period. BUA’s representative in the northern region, Alhaji Muhammadu Adakawa, disclosed this during a press briefing held in Kano to address the recent increase of prices of products by some...
How Nigeria Spent N896.7bn On Debt Servicing In Q1’22
Nigeria spent N896.7 billion on domestic and foreign debt servicing in the first quarter of 2022, Q1’22 , representing a 12 per cent year-on-year (YoY) decline from N1.02 trillion spent in the corresponding period of 2021. In its External and Domes...
Tinubu Can’t Make Dollar, Naira Value Equivalent — Former Minister
A former Minister of Lands, Housing and Urban Development, Chief Nduese Essien has faulted the claim by the Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu that he would bring the naira at par with the dollar ...
Filling Stations Adjust Pump Prices, Sell Petrol At N162 [SEE PHOTOS]
Less than 24 hours after the increase in the ex-depot price of Premium Motor Spirit (petrol) was announced, some filling stations in Lagos and Ogun states have adjusted their pump prices, selling the product at between N150 and N162 per litre. Our correspondent, who visited several filling stations along the Lagos-Ibadan Expressway, observed that Fatgbems sold a litre of petrol...
Dangote Refinery, Others Threaten Existing Plants – OPEC
New refining capacities expected to come on stream in Nigeria and other African countries in the next few years may increase pressure on existing plants on the continent, the Organisation of the Petroleum Exporting Countries has said. OPEC, in its newly released 2020 World Oil Outlook, estimated refining capacity additions between 2020 and 2025 at around 5.2 million barrels per...
Ikpeazu Moves To Pay Abia Polytechnic, SEMB Staff, Others Salary Arrears
Abia State governor, Dr Okezie Ikpeazu has set up a committee on resolution of arrears of salaries owed staff of Abia State Polytechnic Aba, Secondary Education Management Board (SEMB), and others. Members of the committee are; 1. Dr. Aham Ukoh, Honorable Commissioner for Finance - Chairman 2. Sir Onyi Onyii Wamah, State Head of Service - Member 3. Dr Jonathan Osuji, Honorable Commissioner...
#EndSARS: Despite Losing About N50m, We’re Committed To Making Enyimba Mall Reality — MD [VIDEO]
Business owners are still nursing the numerous losses encountered during the #EndSARS protest as some of them had their properties destroyed and goods looted. One of such is the magnificent Enyimba Mall Outlet, an edifice located at Ngwa Road by East Aba that was partly destroyed by hoodlums who infiltrated the #EndSARS protesters to unleash mayhem on citizens. Building materials...
We’re Soft Target For Robbery Attacks — Aba, Umuahia POS Operators Lament
Operators of Point of Sale outlets in Aba, the commercial nerve of Abia State, and its environs have decried incessant robbery attacks on their members, calling on the police and other security agencies to protect their business interest. The operators who spoke to our reporter on Friday lamented series of attacks on their business by hoodlums who have made them...
